Morgan Stanley Hedge-Fund Capital Raiser Barrett Said To Depart

Morgan Stanley (MS)’s David Barrett oversaw a unit that raised money for hedge funds and private companies, is leaving after 22 years to look for a job outside banking, two people with knowledge of the matter said.

Barrett ran the New York-based firm’s private capital markets business, where he reported to client-solutions head Wylie Collins and equity capital markets co-heads John Moore and Paul Donahue. Barrett is considering positions at several hedge funds, said one of the people, who asked not to be identified because the information hasn’t been made public.

Since 2008, Barrett developed and led a new business at Morgan Stanley raising money for hedge funds in exchange for fees, the people said.